PEAK Capital Acquires Multifamily Property In Brooklyn Heights With Webster Bank Loan
70 Middagh Street, Brooklyn, New York 11201, United States
$5,678,000
$624/SF
Building Size
9,100 SF
Asset Type
MultiFamily
Closing
Apr 5, 2022
AI
The property involved in this transaction is a multifamily asset located at 70 Middagh St. in Brooklyn Heights. It has a total square footage of 9,100 and consists of 11 units. The deal took place on 04/06/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,678,000
- Market: Brooklyn Heights
The lender in this transaction was Webster Bank, providing a loan amount of $5,678,000. The loan type was a refinance, with a loan term of 10 years at an interest rate of 4%. The landlord of the property is PEAK Capital, represented by Alex Rabin and David Gomez. The broker involved in the deal was Mitch Uris from Cooper Horowitz.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.79%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93